体育产业：开辟新赛道（第九版）

Foreword A special thanks to our interviewees Jo Redfern,Holly Murdoch, Alex McLin, Bex Smith, DavidRader, Jonathan Fascitelli and Regina Rossi whoseinsights deepen and enrich the analysis. We hopeyou find the report thought‑provoking and useful Since its launch in 2016, the survey has taken thepulse of global sport by tracking leaders’ viewson growth, risks, and opportunities. New this year,we add a fan lens (7,250 survey responses across17 countries) to complement the executive view, We’re delighted to introducethe ninth edition of our GlobalSports Survey. This year wegathered 517 responses fromsenior sports executivesacross 48 countries – thank outlook and explore five themes we believe willshape the next phase of the sports economy: theinvestment landscape, changing fan behavioursand media consumption, the positive momentumin women’s sport, the evolution of stadiums andvenues, and sports integrity and governance. Sports Business shin.a.szedlak@pwc.ch View from the top Team franchisevaluations 55%investment of executives expectinvestment capital to favour 7.9%valuation growth, in thenext 3‑5 years, up from7.0% last year 78diversification 7.4growth 63% %of executives expectinvestors to focus onassets with diverserevenue streamsbeyond media rights of fans globally still prefer toconsume traditional leagues %market growth (marginally upfrom 7.3% last year) expectedfor the next 3‑5 years View from the top 91%of executives expect doubledigit revenue growth forwomen’s sport over the next 66%of fans consume livesports broadcasts, butyounger fans increasinglyprioritise ancillary content 75% 56 43% of executives see integritybreaches as a majorcommercial risk %of fans are willing topay for women’s sportscontent and events of fans believematchday experiencesoutweigh ticket costs Survey background of both industry decision‑makers and (self‑identified) sports fans. between June and September 2025, capturing responses from517 senior executives across 48 countries. All respondents heldC‑suite or director‑level roles at the time of participation, workingacross the global sports ecosystem (including leagues, clubs,federations, sponsors, and investment firms). Quantitative findingsSurvey online between June and July 2025. The fan dataset reflectsthe collective opinions of 7,250 respondents across 17 countries,covering similar themes to the Executive Survey. Results arereported as percentages of respondents (and, where noted, top twoselections) and are indicative of sentiment at the time of fieldwork. sports ecosystem. For details on the Executive and Fan Survey,refer to pages 46 and 47. Contents01 Market outlook 02Sports investment Marketoutlook Insight 01 Executives expect overall slower growth in media rights to be offsetby growth in other revenue streams is expected to accelerate as teamsfocus on delivering premium matchdayexperiences and stadiums / real‑estaten = 517 sports executives, % of annual growth estimates over a 3‑5 year period Insight 02 Sports executives predict positive but overallslower sports market growth in the next 3-5 years Sports executives project7.4% annual growth for theindustry over the next 3-5 years(down from 8.5% inover the past 3‑5 years). Growth is driven by the Asia(9.4%) and North America (8.5%), with more tempered previous editions despite global trade tariffs,slowing economic growth and recent geopoliticaluncertainty, though projected growth variers widely population below age 20) and improving infrastructurewhich support faster expansion albeit from a low base.Growth in mature markets such asNorth America / relatively resilient fan demand. Historic and future growth industry growth ratesreflect surveyed executives’ sentiment at the time of fieldwork (June to September 2025) and should beviewed as estimates rather than hard market data. Insight 03 Sports rights owners continueto be the most attractivesub-segment for investors; Globally, 38% of investors believe that rights owners – such asteams and leagues – represent the most attractive opportunity forIn this environment, investors have become more selectiveabout investments into rights owners and are typically favouring and gaming – as these sectors promise new engagement modelsand data‑driven monetisation. Examples include fan analytics,streaming tools, and immersive gaming experiences. However,scalability remains a major hurdle: many sports tech businesses bifurcating between premium and non‑premium properties,sponsorship is increasingly competitive as digital platformsprove ROI more effectively and cost of living pressures weigh Insight 04 Investors are increasinglylooking for rights holders withdiverse revenue streams Investor priorities over the next 3-5 yearsn = 517 sports executives, % of respondents 3‑5 years is to target sports assets with a broad range ofmonetisation levers, versus just 14% who plan to double down onrights holders favouring traditional revenue models (8%